B-15: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
B-15
Largest movements
- Receivables within one year +€3.1m
up €3.1m (+90.9%), from €3.4m to €6.5m
of which Other amounts receivable: +€3.9m
- Profit (loss) carried forward +€6.2m
up €6.2m, from -€2.7m to €3.6m
- Debts after one year -€2.8m
down €2.8m (-98.0%), from €2.9m to €57,424
- Trade debts -€912,353
down €912,353 (-58.2%), from €1.6m to €656,288
- Contributions +€450,007
up €450,007 (+3.3%), from €13.6m to €14.0m
- Financial income +€5.6m
up €5.6m (+1552482.0%), from €359 to €5.6m
- Other operating charges -€404,174
down €404,174 (-96.9%), from €417,292 to €13,119
- Other operating income -€391,432
down €391,432 (-7.2%), from €5.4m to €5.0m
- Services and other goods -€305,574
down €305,574 (-6.8%), from €4.5m to €4.2m
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,377,940 | €18,296,009 | +€2.9m | +19.0% |
| Formation expenses | 20 | €598 | €108 | -€490 | -82.0% |
| Fixed assets | 21/28 | €11,532,157 | €11,468,079 | -€64,078 | -0.6% |
| Intangible fixed assets | 21 | €178,962 | €117,909 | -€61,054 | -34.1% |
| Tangible fixed assets | 22/27 | €16,366 | €13,341 | -€3,024 | -18.5% |
| Plant, machinery and equipment | 23 | €16,366 | €13,341 | -€3,024 | -18.5% |
| Financial fixed assets | 28 | €11,336,829 | €11,336,829 | = | 0.0% |
| Affiliated companies | 280/1 | €11,336,829 | €11,336,829 | = | 0.0% |
| Participating interests | 280 | €11,336,829 | €11,336,829 | = | 0.0% |
| Current assets | 29/58 | €3,845,185 | €6,827,823 | +€3.0m | +77.6% |
| Amounts receivable within one year | 40/41 | €3,412,280 | €6,512,966 | +€3.1m | +90.9% |
| Trade receivables | 40 | €2,069,309 | €1,289,021 | -€780,288 | -37.7% |
| Other amounts receivable | 41 | €1,342,971 | €5,223,945 | +€3.9m | +289.0% |
| Deferred charges and accrued income | 490/1 | €432,905 | €314,856 | -€118,049 | -27.3% |
| Total equity and liabilities | 10/49 | €15,377,940 | €18,296,009 | +€2.9m | +19.0% |
| Equity | 10/15 | €10,898,945 | €17,576,742 | +€6.7m | +61.3% |
| Contributions | 10/11 | €13,554,693 | €14,004,700 | +€450,007 | +3.3% |
| Profit (loss) carried forward | 14 | -€2,655,748 | €3,572,042 | +€6.2m | |
| Amounts payable | 17/49 | €4,478,995 | €719,268 | -€3.8m | -83.9% |
| Amounts payable after more than one year | 17 | €2,895,000 | €57,424 | -€2.8m | -98.0% |
| Financial debts | 170/4 | €2,895,000 | €57,424 | -€2.8m | -98.0% |
| Other loans | 174 | €2,895,000 | €57,424 | -€2.8m | -98.0% |
| Amounts payable within one year | 42/48 | €1,579,995 | €656,288 | -€923,707 | -58.5% |
| Trade debts | 44 | €1,568,640 | €656,288 | -€912,353 | -58.2% |
| Suppliers | 440/4 | €1,568,640 | €656,288 | -€912,353 | -58.2% |
| Other amounts payable | 47/48 | €11,355 | - | -€11,355 | |
| Accrued charges and deferred income | 492/3 | €4,000 | €5,556 | +€1,556 | +38.9% |
| Operating income | 70/76A | €5,426,299 | €5,034,867 | -€391,432 | -7.2% |
| Other operating income | 74 | €5,426,299 | €5,034,867 | -€391,432 | -7.2% |
| Operating charges | 60/66A | €5,011,504 | €4,298,313 | -€713,191 | -14.2% |
| Services and other goods | 61 | €4,524,671 | €4,219,097 | -€305,574 | -6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,540 | €66,097 | -€3,443 | -5.0% |
| Other operating charges | 640/8 | €417,292 | €13,119 | -€404,174 | -96.9% |
| Operating profit (loss) | 9901 | €414,795 | €736,554 | +€321,759 | +77.6% |
| Financial income | 75/76B | €359 | €5,578,582 | +€5.6m | +1552482.0% |
| Recurring financial income | 75 | €359 | €5,578,582 | +€5.6m | +1552482.0% |
| Income from financial fixed assets | 750 | - | €5,481,439 | +€5.5m | |
| Income from current assets | 751 | - | €97,132 | +€97,132 | |
| Other financial income | 752/9 | €359 | €11 | -€348 | -96.8% |
| Financial charges | 65/66B | €86,949 | €87,347 | +€398 | +0.5% |
| Recurring financial charges | 65 | €86,949 | €87,347 | +€398 | +0.5% |
| Debt charges | 650 | €4 | €59,836 | +€59,832 | +1492069.8% |
| Other financial charges | 652/9 | €86,945 | €27,511 | -€59,434 | -68.4% |
| Profit (loss) for the period before taxes | 9903 | €328,206 | €6,227,790 | +€5.9m | +1797.5% |
| Profit (loss) for the period | 9904 | €328,206 | €6,227,790 | +€5.9m | +1797.5% |
| Profit (loss) for the period to be appropriated | 9905 | €328,206 | €6,227,790 | +€5.9m | +1797.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.